Income tax, state; homebuyer tax credit. (HB1721)

Introduced By

Del. Chris Peace (R-Mechanicsville) with support from 18 copatrons, whose average partisan position is:

Progress

√
 Introduced
X
 Passed Committee
☐
 Passed House
☐
 Passed Senate
☐
 Signed by Governor
☐
 Became Law

Description

Income tax; homebuyer tax credit. Provides an income tax credit equal to $1,250 for single taxpayers and $2,500 for married taxpayers filing jointly for taxable years beginning January 1, 2009, and ending January 1, 2010, who purchase a home for the first time during that period for use as their principal residence. The taxpayer must repay the credit over a 10-year period which begins the first year when no credit remains to be taken.   View Full Text »

Outcome

Bill Has Failed
View Bill's History